The residential plot scheme launched by the Yamuna Expressway Industrial Development Authority (YEIDA) last month near the upcoming Noida International Airport has received more than one lakh applications for only 451 plots.
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As many as 1.12 lakh people have applied for the residential plots located in sector 24A along the Yamuna Expressway, which connects Greater Noida with heritage cities of Agra and Mathura. The Authority has mopped up a revenue of around Rs 4,800 crore only from registration.
Experts said that such an overwhelming response underlines the demand for residential real estate near the Noida Airport.
“A lucky draw for the allotment of these residential plots will be conducted on December 27. The plots are conveniently located near the upcoming airport, the proposed Film City in Sector 21, and the Eastern Peripheral Expressway,” a YEIDA official told Moneycontrol.
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The scheme was launched on October 31 and it closed on November 30.
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“The demand for residential and commercial plots has gone up as people are willing to invest and live close to the upcoming airport. This overwhelming response for residential plots scheme underlines the huge demand,” the official said.
The residential plots come in five size categories of 120 square metres (sq m), 162 sq m, 200 sq m, 250 sq m, and 260 sq m.
The data showed that there were 48,266 applications for the 200 sq m plots, 36,523 for the 162 sq m plots, 24,063 for the 120 sq m plots, and only 1,837 applicants turned up for the 250 sq m plots. The 260 sq m plots drew the fewest seekers at 1,333.
The allocation includes 100 plots of 120 sq m, 169 plots of 162 sq m, 172 plots of 200 sq m, six plots of 250 sq m, and four plots of 260 sq m. The plots are priced at Rs 25,900 per sq m.
The smallest 120 sq m plot will cost Rs 31.08 lakh, while the 162 sq m plot will be priced at approximately Rs 41.95 lakh. Mid-sized 200 sq m, 250 sq m, and 260 sq m plots will be offered at Rs 51.8 lakh, Rs 64.75 lakh, and Rs 67.34 lakh, respectively, excluding additional charges and taxes.
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Booming real estate space
Vishal Raheja, who is the founder and managing director of InvestoXpert.com, said that the tremendous response to the YEIDA residential plot scheme exemplifies the surge in demand for residential, commercial, and industrial spaces in the region. Industry data shows land prices in areas like Jewar have appreciated 40-50 percent over the last two years, reflecting growing investor confidence.
“A study predicts that the Noida airport vicinity could become one of India’s top five realty hotspots by 2025, with an estimated market valuation crossing Rs 60,000 crore. This growth trajectory is reminiscent of the development around Delhi’s IGI Airport, where property values tripled in under a decade,” he said.
The synergy of infrastructure, policy support, and strategic location positions the Noida International Airport neighbourhood as a cornerstone of the next growth chapter for the National Capital Region, unlocking immense potential for early movers in real estate, he said.
